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Rabigh Refining and Petrochemical Company (Petro Rabigh) announced it un-audited financial results for the period ending 30/06/2010

 

 
Rabigh Refining and Petrochemical Company (Petro Rabigh) announced it un-audited financial results for the period ending 30/06/2010 as follows:

1.Net profit in the second quarter of 2010 was SAR 121.8 million, compared to SAR 236 million loss in the second quarter of 2009 and compared to a net profit of SAR 271.5 million for the first quarter of 2010 with a decrease of 55.1%.

2.Gross profit in the second quarter of 2010 was SAR 314.8 million, compared to SAR 67.4 million loss in the second quarter of 2009.

3.Operational profit in the second quarter of 2010 was SAR 82.9 million, compared to SAR 240.1 million loss in the second quarter of 2009.

4.Net profit during the first six months of 2010 was SAR 393.3 million, compared to SAR 264.6 million loss in the first six months of 2009.

5.Profit per share during the first six months of 2010 was SAR 0.45 compared to 0.30 loss per share in the first six months of 2009.

6.Gross profit during the first six months of 2010 was SAR 474.3 million, compared to SAR 39.7 million during the first six months of 2009 with an increase of 1094.7%.

7.Operational profit during the first six months of 2010 was SAR 33.2 million, compared to SAR 279 million loss during the first six months of 2009.

8.The increase in net profits for the first six months of 2010 is due to the full operation of all the plant units and the stability of production operations, compared to the first six months of 2009 where most of the plant units were under pre-commissioning phase. It should also be noted that the total sales for June, 2010 have significantly increased compared to previous months.

    
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